Moneycontrol Pro Weekender | Where are you on India’s wealth ladder? Moneycontrol 7 hours ago
Dear Reader,
Credit Suisse has for the last decade brought out a Global Wealth Databook, which estimates the total wealth of nations, how it is divided, how many millionaires and billionaires we have and other such data. This year’s edition tells us that the richest 1 percent of Indians own 40.5 percent of the nation’s wealth, the top 5 percent own 61.7 per cent and the top 10 percent have 72.5 percent. Putting it differently, the top 5 percent own more than the other 95 percent combined.
Where do you stand on the rich list? Credit Suisse has helpfully told us what it takes to get on it. It estimates that the minimum wealth for an adult to be part of the richest 1 per cent in India is $150,902. At current rates of around Rs 74.5 to a dollar, that would be around Rs 1.12 crore. Note that this is wealth per adult and not per household.
Markets bullish after 2-days selloff; Sensex tops 565 pts, Nifty 50 nears 15,790; Bank, Consumer Durables outperform; Bajaj twins, HUL, Titan, HDFC Bank drive indiainfoline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiainfoline.com Daily Mail and Mail on Sunday newspapers.
Here are the top stocks that are likely to be in focus today:
Earnings today: A total of 33 companies are set to report their Q1FY22 results today including Asian Paints, Bajaj Finance, Network 18 Media, and Shyam Metaliks. While the Street is a 90 per cent jump in Asian Paint s revenues at Rs 5,550 crore, they peg EBITDA at Rs 1,105 crore, up 130 per cent, on a low base. As regards Bajaj Finance, analysts expect the NBFC s net profit to rise anywhere between 30-90 per cent YoY, in the range of Rs 1,250-1,850 crore.
HCL Technologies: The company s first-quarter numbers were propelled by cloud and digital transformation deals. Net profit for the quarter at Rs 3,214 crore was up 9.9 per cent year-on-year and 8.5 per cent sequentially. Although, it did not meet the consensus estimate of analysts tracked by Bloomberg at Rs 3,425 crore. Further, Shiv Nadar has stepped down as the managing director and board member of HCL Technologies. He will now take on the role of Chairman Emeritus
HDFC Bank share price: Should you buy the dip in HDFC Bank shares? indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Asian Paints Q1 results: Net profit soars 161% to ₹574 cr livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.